State of Wisconsin Investment Board lowered its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 20.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,996 shares of the company’s stock after selling 178,893 shares during the period. State of Wisconsin Investment Board owned approximately 0.14% of Hormel Foods Corporation worth $22,948,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Dupont Capital Management Corp bought a new stake in Hormel Foods Corporation during the 3rd quarter valued at $100,000. Acrospire Investment Management LLC bought a new stake in Hormel Foods Corporation during the 2nd quarter valued at $111,000. BB&T Investment Services Inc. bought a new stake in Hormel Foods Corporation during the 2nd quarter valued at $118,000. Bronfman E.L. Rothschild L.P. raised its stake in Hormel Foods Corporation by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after acquiring an additional 19 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Hormel Foods Corporation during the 2nd quarter valued at $189,000. 38.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total value of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the completion of the transaction, the insider now owns 26,838 shares in the company, valued at $838,150.74. The disclosure for this sale can be found here. Insiders sold a total of 194,518 shares of company stock worth $6,132,366 over the last 90 days. Insiders own 3.54% of the company’s stock.
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Hormel Foods Corporation (NYSE:HRL) opened at $32.33 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 2.53. The stock has a market capitalization of $16,864.11, a price-to-earnings ratio of 19.72, a PEG ratio of 2.09 and a beta of 0.58. Hormel Foods Corporation has a 1 year low of $29.75 and a 1 year high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. sell-side analysts predict that Hormel Foods Corporation will post 1.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s payout ratio is 41.98%.
Several analysts have weighed in on HRL shares. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 target price on shares of Hormel Foods Corporation in a research note on Monday, November 6th. BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Mizuho reiterated a “hold” rating and set a $33.00 price target on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.44.
About Hormel Foods Corporation
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